5 tips to do your own taxes

Tax Day is almost upon us. If you haven’t filed your taxes and you’re planning to pull a “filing all-nighter,” these 5 helpful tips to do your own taxes will make it easier for you:

Find out if you actually need to file

You can use the IRS’s online Interactive Tax Assistant. That means you need to answer a few basic questions about your filing status, gross income and whether you had federal income tax withheld. You can use a tax-filing software or hire a professional, either way, make sure that you need to file.

What’s your filing status?

Are you single, married or separated? Your filing status is based on what your marital status was on Dec. 31, 2016, and it applies to all of the tax year 2016. There are five possibilities:

Single

Married filing jointly

Married filing separately

Head of household

Qualifying widow(er) with dependent child

If you legitimately fit into more than one category, pick the one that requires you to pay the least amount of taxes.

Know your expenses and what you can deduct

If you just purchased a home and have a mortgage or if you, your spouse or dependents had higher education costs in 2016, there may be some tax savings for you. Your charitable donations and home office expenses can also add to your tax savings. If you itemize deductions, make sure the items you claim are in fact deductible. Here’s a list of some nondeductible expenses:

Adoption fees (although you might be eligible for an adoption credit)

Broker’s commissions

Burial or funeral expenses, including the cost of a cemetery lot

Club dues

Fees and licenses, such as car licenses, marriage licenses, and dog tags